Global X has had many chats with Muhammad Yunus, but most of the time when the 2006 Nobel Peace Prize laureate was talking to other interesting people, such as Peter Gabriel, Pamela Hartigan, Vera Cordeiro, Rachel Payne, Sakena Yacoobi or Albina Ruiz. Global X even met his daughter Monica Yunus, a soprano with the Metropolitan Opera in New York who sang in French just for him (and a few thousand other people): a piece from Gounod’s Romé et Juliette. Her French was very good, thought Global X at that time. At last, a few weeks ago, Global X had a chance to sit down with the Professor to have a little chat. Just the two of them (and a movie crew). Global X, for once, was mesmerized and actually became speechless. Listen to Professor Yunus as he tells the story of the first US loan in a village of Bangladesh, the loan that launched the microfinance movement. Watch him as he recalls how surprised he was that it took so little money to free village women from modern-day slavery, humiliation and torture.
Muhammad Yunus – Grameen Bank
Posted by admin on April 10th, 2010
Posted in Banking 
Tags: Bangladesh, bank, Economics, globalx, grameen, microfinance, muhammadyunus, nobel, nobelprize, peace, Skoll, socialedge, yunus
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Dr. Yunus did an amazing job, look at him. You can see that he loves helping poor people. I have an essay about The Grameen Bank. Lots of positivity. God Bless you Dr. Yunus.
Hello!
You all may be interested to know about a new documentary film world premiering at the Sundance Film Festival this month about Grameen Bank America and Dr. Muhammad Yunus work with microfinancing. To Catch a Dollar: Muhammad Yunus Banks on America is a film directed by Gayle Ferraro which follows women in Queens who are improving their lives through microfinance loans. The film does a good job of explaining the concept of microfinancing and the organizing principles of Grameen Bank.
bank interest is forbidden for Muslims not for non-muslims. and his bank isnt prejudiced against non-muslims. moreover, its like, taking interest from now well-to-do (yesterday’s poor) n passin it on to the next poor. moreover, this is much better than saving wealth by marrying within a family. he is obligated to pay the Grameen bank for providing the loans. lot of Muslim countries r poor, bcoz when there’s someone doing good, others cant stand it.
@hamidmushtaq And furthermore you should distiguish between political – strategical statements of Quran and spiriutual ones. Nobody will burn in hell forever. Nobody! Maybe only you by creating eternity in your simple mind – eternity, a term you not even know to describe neither you know what it means!
@hamidmushtaq they won’t burn forever. Only the apostates will burn forever. And stop seeing everything out of your religious eyes. In fact you people do less for the poor and disadvanteged. I’m myself Arab and I know that even the muslim people rather seek for humanitarian aid at christian organisations. And don’t doubt my statements I’m working with those people. And at least Dr. Yunus tries to move something. What are you doing for the people around you?
Not sure if you’ve gotten an answer to this yet, but as I understand it it’s because of the fees required to administer a loan – a loan takes say, $200 to set up – this fee doesn’t change no matter how large or small the loan. $200 is a small percentage of a large loan, but it’s a huge percentage of a microloan. Thus the higher interest rates are needed to cover costs. (Keep in mind the average microloan is like, $500)
the information costs and risks are much higher than in the commercial credit lending. Therefore many commercial banks are not working in the area of microcredits. The interest rates capture these costs.
riba is harammmmmm !!!
why are the interest rates so high?
Dr. Yunus may be a true saint.
Got to thinking it’s nice that a brown person is taking the lead instead of a white person. I’m a white person and I get tired of seeing the nice white people running around trying to help the brown people.
Don’t get me wrong – we all need to help each other out to bring peace and justice to people everywhere!!! But it’s refreshing to see a leader from the area taking charge. Peace and love to all.
I love Dr. Yunus.
lending money to the poor with 20% interest is amazing!!! ya right!
Mehedi Hassan, From your name, I can see that you are a muslim. Tell me one thing, Is Bank Interest allowed in Islam? And this man charges 20% interest, is this good? In Quran, it is written that usurer will burn in hell forever! so don’t glorify usurers!
This is good news. Media are you listening? Why not plaster this across front pages for a month rather than war and hate??? I’d bet the whole world changes OVERNIGHT seeing some GOOD NEWS for a positive change.
Mother fucker! You know nothing about him u moron! He havent made any profit from Grameen Bank. All profit goes to the Grameen Bank Fund. And then from this Fun , Grameen Bank give the load to poors. Prof. Dr. Younis just like an employee now. And he dont even have a good car to use, and a good house to live. Mother fucker, for more information, he dont have any Air Conditioning system even in his Car and home!….so be careful to treat a man like him…Pussy Sucker!!
Muhammeed Yunus will be at the 92nd street Y on April 19.
Brilliant idea my friend.
OK, that was necessary! You sound like a really smart guy. Nice exchanging opinions with you
Fuck you stoker you fucking cunt!
No is against the profit you retard purist.
I think people generally is against exploitation and slavery!!!
This is a breakthrough!!!
Yunus engages in fraud. Yes, he does help the poor, and micro-credit is a wonderful idea but the guy is using his reputation to make his own profits with means that are unacceptable. He should be discredited.
Make Professor Yunus the head of the World Bank!
Professor Yununs did something amazing for the poverty people. … so sincere and passionate.
He’s an amazing individual